To work with cryptocurrencies should be professionals, said Siluanov

CC0 / vjkombajn / Cryptocurrency bitcoin. Archival photoTo work with cryptocurrencies should be professionals, said SiluanovCC0 / vjkombajn /

To work with cryptocurrencies should be professionals, not ordinary citizens, said the Minister of Finance of the Russian Federation Anton Siluanov.

«The Ministry of Finance has prepared a bill, which is now considered. It will determine the order of release, taxation, purchase and treatment (cryptocurrency — ed.)», — he told in interview to TV channel «Russia 24».

«The meaning is this: cryptocurrencies should operate by professional market participants, it should not be simple citizens», — said the Minister. He explained that the citizens, seeing that the cryptocurrency, such as bitcoin, recently too exuberant in price, wanted to invest in it and earn on the growth rate, but now the situation with the dynamics of bitcoin has changed.

The world’s most popular cryptocurrency bitcoin (bitcoin) continued to fall on Monday, its price on the major exchanges was of the order of 14 thousand dollars. Bitcoin is rapidly dropping in the previous days after December 17, it was trading in the region of 20 thousand dollars. Siluanov also said that the task of the Ministry of Finance is to protect ordinary citizens from this kind of investment.

The head of the Duma Committee on information policy Leonid Levin earlier on Monday said that the draft law on the regulation of cryptocurrencies will be presented in January. Earlier in December, the Chairman of the Duma Committee on financial market Anatoly Aksakov reported that the legal structure of the upcoming bill on the cryptocurrency will be presented on 28 December, and not at the state Duma. According to him, the Parliament, the document will be made evident later, but may be adopted by the end of March, because of the need, on the one hand, to legalize the purchase of cryptocurrencies, and on the other hand — to protect citizens from fraud.

The current version of the bill, told Aksakov, defines cryptocurrency as «other assets» and the ICO (initial public offering tokens) considers crowdfunding, providing a limitation on the amount of investment per investor. He also said that in the preparation of the document involved the Central Bank and the Finance Ministry, and its presentation can be refined to specific aspects of the bill.